The rapper, who owes $4 million to creditors, claims she originally filed for bankruptcy to save her house from a public auction and to address outstanding tax debt, according to court documents obtained by The Blast.
Kim now claims to be devoted to digging herself out of her financial hole, explaining, “I remain committed to saving my home and reorganizing my debts.”
Kim is asking the court to convert her case into a Chapter 11, instead of a Chapter 13 bankruptcy, which would give her an opportunity to save the home by reorganizing debts and setting up plans to repay what she owes.
One of Kim’s creditors recently filed a motion demanding they be allowed to take action against the rapper’s New Jersey mansion, claiming she missed her June 1 payment of $10,155.47.
The creditor is asking the judge to be allowed to seize the home and sell it off to the highest bidder, claiming the property is worth at least $2 million.
The judge has yet to rule on the fate of Lil’ Kim’s home.
READ MORE STORIES ON BLACKAMERICAWEB.COM:
- Urban One and Reach Media Launch New Original Podcast “The Undressing Room” Presented by Macy’s
- NBA Analyst Sekou Smith Dies Of COVID-19 Complications
- College Cheerleader Is Kicked Off Her Team For Wearing A Bonnet To Practice
SIGN UP FOR OUR NEWSLETTER: